Financing Weekly Report | Cryptocurrency data company Kaiko completes $110 million financing; AI computing power company Crusoe completes $3.9 billion Series F financing.

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This Issue Highlights

Stablecoin payments have become the most focused direction of crypto financing this round: Velocity, dtcpay, and Fin.com have all secured new funding on a scale of tens of millions of dollars, with investors including Visa, Circle, Ripple, Coinbase Ventures, and SBI among other industrial capital. The funds are clearly extending from the stablecoin issuance end to settlements, deposits, and backend banking infrastructures.

According to incomplete statistics from PANews, last week (9.14-9.20), there were 9 investment financing events in the global blockchain industry, with a total funding amount exceeding 2.23 million dollars. The summary is as follows:

  • The crypto data company Kaiko completed a 110 million dollar financing led by S&P Global;
  • The stablecoin payment company Velocity’s Series A financing has expanded to 48 million dollars;
  • The stablecoin payment company dtcpay received strategic investment from SBI Group, with Series A financing expanded to 25 million dollars;
  • The fintech company Tare completed 13.25 million dollars in seed funding, led by Blockchain Capital;
  • The tokenized securities market platform tZERO has completed a new round of financing, with participation from ICE and others.

In addition, in the AI field, AI computing infrastructure continues to consume the largest scale of capital. Crusoe secured 3.9 billion dollars in a round of financing, with its valuation rising to 30.9 billion dollars, and Nvidia has committed 2 billion dollars to the Brookfield AI infrastructure fund. Robot financing continues to concentrate on key components and commercial deployment. Qianjue Robot has obtained additional industrial capital investment, focusing on tactile sensors, data, and tactile models; Hello Robotaxi has received approximately 100 million dollars in financing.

Crypto Financing

RWA

Asset-backed financial infrastructure Tenka completes 2 million dollars in Pre-Seed round financing, led by Maven 11

Tenka announced it has completed 2 million dollars in Pre-Seed round financing, led by Maven 11, with Gami Capital and several angel investors participating; the specific amount has not been disclosed. Tenka aims to be an asset-backed financial trading platform for institutions, connecting asset initiators, investors, and liquidity providers, offering structured bookkeeping and supporting secondary market trading at the initiation end, achieving on-chain settlement, independent valuation, and unified reporting. The company states its goal is to alleviate liquidity constraints in the private credit market, allowing asset-backed financial instruments to be transferred in the secondary market without requiring early repayment by borrowers or redemption at the fund level. The platform is expected to launch later this year, with CEO Emile Dubié at the helm.

Tokenized securities market platform tZERO completes a new round of financing, with ICE and others participating

Tokenized securities market platform tZERO announced it has completed a new round of financing, led by Marc Cohodes and Max Cohodes, with existing investors including the Intercontinental Exchange (ICE), Bill Fleckenstein, and partner Dinari participating, while Neighborhood Intelligence has also committed to this round of financing. This financing will support the company's continued expansion of tokenized financial market infrastructure business and promote capital independence.

tZERO stated that this round of financing is part of the company’s long-term capital plan, intended to support business operations and the next phase of growth, and boost its infrastructure as a service business development. The company is currently building infrastructure covering tokenizing, trading, custody, and asset services around tokenized securities and other assets, helping financial institutions issue and trade assets through regulated blockchain infrastructure. It also plans to expand tokenized and other derivatives, prediction markets, and spot crypto infrastructure services, and looks to further scale through strategic transactions.

Tokenized collectibles market Deadstock completes 2.5 million dollars in seed round financing, led by Bullish Capital

The tokenized collectibles liquidity market Deadstock has completed 2.5 million dollars in seed round financing, led by the venture capital arm of Bullish, with a group of angel investors participating. The funds will be used to move Deadstock into public testing and to enter the next stage of building infrastructure for the global trading card market.

Deadstock is described as an on-chain market and liquidity layer for physical collectibles created by ATH Labs, built on Arbitrum, combining physical inventory, tokenization, market trading, and exchange infrastructure to make traditionally illiquid collectibles easier to hold and trade.

Infrastructure

Crypto data company Kaiko completes 110 million dollars financing led by S&P Global

Digital asset data provider Kaiko has completed its latest round of financing, led by S&P Global, raising the total amount to 110 million dollars. Investors include DRW Holdings, Susquehanna, Royal Bank of Canada, Nasdaq, BNP Paribas, Bpifrance, Broadridge Financial Solutions, Canton Ventures, Coinbase Ventures, and Stellar. Kaiko, headquartered in Paris and founded in 2014, provides crypto market analysis and indices for financial institutions and digital asset companies, employing about 120 staff globally, recently acquiring American digital asset data company Amberdata and crypto infrastructure provider Cometh. This round of funding will be used to develop new products and services.

Fintech company Tare completes 13.25 million dollars in seed round financing, led by Blockchain Capital

Fintech company Tare has completed 13.25 million dollars in seed round financing, led by Blockchain Capital, with participation from Janus Henderson, Strobe Ventures, the Venture Dept, Neoclassic Capital, and Avalanche Foundation, with personal investors including Aave CEO Stani Kulechov, Tether co-founder Phil Potter, and Privy CEO Henri Stern. The funds will be used to build and scale loan management software, recruit staff, and acquire the necessary licenses for its lending division Tare Credit LLC to operate nationwide.

Tare was co-founded by Kevin Miao, Keerthi Moudgal, and Lucas Vogelsang, with plans to build software on the Avalanche blockchain to create digital records for loans and automate the associated administrative work. Miao noted that the difference between the interest paid by borrowers and the returns received by investors is often absorbed by intermediaries, and blockchain systems can automate operations and eliminate extra costs.

Stablecoin Payments

Stablecoin payment company Velocity expands Series A financing to 48 million dollars

London-based stablecoin payment infrastructure company Velocity has completed a 10 million dollar Series A extension, raising the total to 48 million dollars, with a post-investment valuation of 200 million dollars, and investors including Visa Ventures, Circle Ventures, Haun Ventures, Ripple, Translink Capital, and Mirana Ventures. Velocity provides backend systems for payment companies and banks to settle, manage liquidity, and conduct treasury operations using stablecoins, without replacing their existing infrastructure. The company just completed a 38 million dollar Series A funding round in July, which was oversubscribed. Co-founder and CEO Eric Queathem stated, "No one has fixed this backend layer before."

Stablecoin payment company dtcpay receives strategic investment from SBI Group, expanding Series A financing to 25 million dollars

Stablecoin payment company dtcpay announced today that it has received strategic investment from Japanese financial giant SBI Group, expanding its Series A financing total to 25 million dollars. This round was led by Temasek's X Ventures in April, with follow-on investment from Genedant Capital, which manages over 2 billion dollars, and continued support from the founder of Capella Hotels, Guo Liangde. SBI Group stated that this investment opens a strategic collaboration between the two parties, aiming to jointly expand the digital asset corridor between Japan and Southeast Asia.

dtcpay is a formal Visa member and has issued a compliant stablecoin Visa card; its licensed operations cover Singapore, Hong Kong, Luxembourg, Australia, the United States, and Canada, and continues to expand, providing compliant infrastructure for global stablecoin payments.

Stablecoin payment infrastructure Fin.com completes 20 million dollars in seed round financing, with participation from Coinbase Ventures and others

New York payment infrastructure company Fin.com has exited stealth mode, completing 20 million dollars in seed round financing, led by Expa and Uber co-founder Garrett Camp, with participation from Coinbase Ventures, Tenet Fund, the founding team of Figure, Mesh founder Bam Azizi, Second Sight Ventures, and sovereign funds and royal family offices from the Gulf and Africa; the valuation has not been disclosed. The company provides white-label payment infrastructure to financial services firms, consumer platforms, and prediction markets, focusing on the "last mile" for stablecoin conversion to local bank accounts or wallets.

DePIN

Decentralized geospatial data network Tina secures 3 million dollars in investment

Decentralized geospatial data network Tina announced it has secured a total of 3 million dollars in investments from Thinkware, Gemhead Capital, Archer Capital, and Mayer Venture. TINA is known as a geospatial DePIN network based on Solana, transforming community-contributed geospatial data into valuable real-world datasets. Through its mobile ecosystem, users collect and verify points of interest (POI), roads, traffic, and other location data during daily driving, while earning token rewards.

AI & Robotics Financing Highlights

Models & AI Infrastructure

AI computing company Crusoe completes 3.9 billion dollars in Series F financing, valued at 30.9 billion dollars

AI computing infrastructure startup Crusoe is in discussions with Goldman Sachs and Morgan Stanley regarding an IPO, having completed 3.9 billion dollars in Series F financing, with a post-investment valuation of about 30.9 billion dollars. Atreides Management, Valor Equity Partners, and Mubadala Investment Company jointly led the round, with participation from Founders Fund, TPG, and Qatar Investment Authority (QIA).

Founded in 2018, Crusoe initially provided services to cryptocurrency miners, then shifted to AI computing infrastructure, having spent two years building a large AI data center in Abilene, Texas, to provide computing power for OpenAI and Microsoft. The company is now turning toward producing compact data centers named "Spark," loading pre-fabricated facilities onto trucks and deploying them to locations with excess power to meet AI inference computing demand faster.

Nvidia commits 2 billion dollars to Brookfield's Global AI Infrastructure Fund

Nvidia has committed 2 billion dollars to Brookfield Asset Management's Global AI Infrastructure Fund, previously disclosed collaboration but this document reveals the specific investment scale for the first time. Both Nvidia and the Kuwait Investment Authority are cornerstone investors in this fund, which focuses on investing in AI factories, grid-power solutions, and computing infrastructure. Brookfield is currently raising 10 billion dollars for this AI infrastructure fund and plans to raise approximately 50 billion dollars for its infrastructure business over the next two years. The firm is also a member of Nvidia's AI computing infrastructure financing alliance, aiming to mobilize over 500 billion dollars in third-party capital.

AI computing chip unicorn Yixing Intelligent completes nearly 2 billion dollars in financing, post-investment valuation nearing 15 billion dollars

General AI computing chip unicorn Yixing Intelligent (EVAS Intelligence) has announced the completion of a new round of financing nearly 2 billion dollars, with an estimated post-investment valuation approaching 15 billion dollars. This round of financing brought together over 20 investment institutions including Huatai Innovation, Zhongding Capital, SMIC Junyuan, Jiuan Medical, Ren'ai Capital, Tongfu Microelectronics, Saiyi Industrial Fund, Heli Capital, Chip Xin Leasing, Hengxu Capital, Shangxi Capital, Jianguang Zhanlu, and Rongyi Capital. Yixing Intelligent primarily provides efficient, scalable AI computing acceleration solutions to promote the widespread application of AI technology across various industries.

AI startup Temporal completes 550 million dollars in financing, with a valuation of 12.55 billion dollars

Artificial intelligence startup Temporal has announced the completion of 550 million dollars in later-stage financing, with its valuation more than doubling within seven months to 12.55 billion dollars. This round was led by Lightspeed Venture Partners, with Wellington Management, Goldman Sachs Alternatives' Growth Equity, and Tiger Global as co-lead investors, SV Angel, and T. Rowe Price Associates also participating, and existing investors Andreessen Horowitz (a16z), Sequoia Capital, and GIC continuing to invest. The funds will be used to expand global operations and deepen platform R&D.

Founded in 2019, Temporal develops open-source software to help applications, including AI agents, recover from failures, reducing the need for engineers to write custom recovery code. Its clients include OpenAI, Snap, Nvidia, Netflix, and JPMorgan Chase. The company has 570 employees, with an annualized revenue run rate exceeding 250 million dollars, growing over twofold year-on-year. In February of this year, the company completed 300 million dollars in funding led by a16z at a valuation of 5 billion dollars.

AI network technology company Cornelis completes 205 million dollars in financing to compete with Nvidia using open architecture

AI network technology company Cornelis has announced it has completed 205 million dollars in financing, led by IAG Capital Partners. The company, which was spun off from Intel in 2020, is developing network technologies that help AI chips communicate more effectively and has released a product called Active Compute Fabric, targeting the issue of wasted GPU time waiting for data to arrive by allowing chips to process and send information simultaneously.

Cornelis competes with Nvidia using an open architecture, allowing customers to use various GPU and accelerator hardware on its network architecture. Although Nvidia chips can technically run on other network architectures, their optimizations for their own software make customers more inclined to use the full Nvidia GPU stack. Cornelis has started shipping products and is developing a new generation of products expected to launch later this year.

AI startup Arcee AI completes 150 million dollars in Series B financing, pre-investment valuation of 1 billion dollars

American corporate AI startup Arcee AI has completed 150 million dollars in Series B financing, with a pre-investment valuation of 1 billion dollars. This round was led by Vista Equity Partners, Cambium Capital, and Emergence Capital, with participation from Microsoft's M12, AI10 Ventures, Hitachi, IAG, P7, and Wipro. Arcee AI, founded in 2023, initially focused on fine-tuning and optimizing existing models but later pivoted to build open-weight models from scratch; its founder, Mark McQuade, was an early employee at Hugging Face. The funds will be used to develop new open-weight models and products, expand cooperation with the U.S. Department of Energy, and collaborate with Vista portfolio companies.

AI company Nuance completes 50 million dollars in Series A financing, led by Lightspeed Venture Partners

Seattle-based AI company Nuance has announced the completion of 50 million dollars in Series A financing, led by Lightspeed Venture Partners, with participation from Accel, Nvidia's NVentures, South Park Commons, and Define Ventures. Nuance was founded last year by three former Apple researchers, aiming to develop multimodal AI models with enhanced emotional understanding capabilities. The company completed a 10 million dollars seed round financing led by Accel in July of last year.

AI Applications & Agent

AI programming company Factory completes 200 million dollars in financing, with a valuation of 5 billion dollars

Enterprise self-improvement software development company Factory has announced the completion of 200 million dollars in financing, reaching a valuation of 5 billion dollars; the company’s total financing has exceeded 400 million dollars, more than doubling its valuation of 1.5 billion dollars in April this year. The funds will be used to accelerate research and development, product enhancement, and global market expansion. Factory states that various institutions, including Blackstone, Khosla Ventures, Sequoia Capital, Insight Partners, Evantic Capital, Sound Ventures, New Enterprise Associates (NEA), Mantis VC, and Clearlake, as well as individuals such as Nico Rosberg, Brad Gerstner, and Marc Benioff support its development. Factory claims that hundreds of thousands of developers are using its products, including teams from NVIDIA, Blackstone, Royal Bank of Canada (RBC), Palo Alto Networks, and Adobe.

AI search marketing company Profound secures 180 million dollars in Series D financing, with a valuation of 1.8 billion dollars

AI marketing startup Profound has completed 180 million dollars in Series D financing, with a post-investment valuation of 1.8 billion dollars, led by Sequoia Capital and Kleiner Perkins. Profound was founded in 2024, with over 335 million dollars in total funding. Based in New York, it primarily helps brands adapt to the trend of users searching through AI chatbots like OpenAI ChatGPT and Google Gemini rather than traditional search engines. Its software can track mentions of brands, occurrence contexts, and descriptions in various AI models’ responses.

ByteDance spins off AI pharmaceutical division ANEW LABS, which completes 290 million dollars in financing

ByteDance has spun off its AI pharmaceutical division ANEW LABS, completing 290 million dollars in financing for the latter.

Robotics & Physical AI

Qianjue Robot completes strategic financing of several hundred million

Shanghai-based embodied tactile company Qianjue Robot has announced the completion of two rounds of strategic financing totaling several hundred million. Previously, Qianjue Robot announced the completion of hundred million level financing, with investors including the embodied intelligence industry parties, Tianji Capital, and Jide Electric. Currently, Qianjue’s shareholders include Hillhouse Capital, Yuanhe Original Point, and Fuying Capital, as well as embodied and industrial sector participants such as Li Auto, Zhiyuan Robotics, and Jide Electric. This round of funding will focus on product upgrades, business expansion, and industrialization, accelerating the iteration and large-scale delivery of high-precision visual-tactile sensors, improving real interaction data collection, tactile simulation, and dataset construction, and continuously promoting the development of tactile embodiment models and tactile world models.

Shanghai Guotou Pioneer leads approximately 100 million dollars financing for Hello Robotaxi

Shanghai Guotou Pioneer recently led approximately 100 million dollars in a new round of financing for Hello Robotaxi, with Minjin Investment and Genesis Partners VC participating. After this round of financing, Hello Robotaxi's business valuation approaches 3 billion dollars.

Investment Institutions

Venture capital firm Cosmos Ventures launches 77.6 million dollars first-phase fund, focusing on investing in philosopher-builders of the AI era

The venture capital firm Cosmos Ventures has announced its establishment, aiming to support entrepreneurs who are both philosophers and builders, dedicated to creating various organizations for the AI era. Brendan McCord and Matt Mandel are the founders of the organization and jointly launched the first-phase fund (Fund I) of 77.6 million dollars. Their already invested projects include AIUC, Prime Intellect, Workshop Labs (acquired by Thinking Machines), and an undisclosed education company, with LPs including Reid Hoffman, Joe Liemandt, Stand Together, Fred Wilson, Micky Malka, and Astera Institute.

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